Why "unwilling"? That's a weird wording. S&P Dow Jones Indices decided to not go through with their rule change after it became a political issue. Obviously they were willing, the proposed rule change originated from them!
Please provide some support that the rule changes were proposed from within. Given the fact they tried pulling this nonsense on 3 indices, it seems very unlikely the rules changes originated from within.
Quatsch. The indices will say whatever benefits their power the most, regardless of truth. The fact that they are bending now to pressure is proof enough for me.
We live in an age proving that valuation is just a manipulation.
This whole story is just like the BaM situation: the people with more money feel emboldened to pull every dastardly trick they can to tilt the table towards their pockets, away from the honest participants. SpaceX and the AI IPOs are just the latest and most grand scheme. I’m guessing you were surprised by the collapse of lehman brothers back in the day.
I don't know how I could? The indices have already provided their reasoning for these rule changes, but that's just summarily rejected by the conspiracy-minded.
To laymen this appears to be a grand conspiracy. Rules are being changed to accommodate big companies, that's usually bad.
To people in the financial industry, it's fait accompli. The indices exist to reflect the market, these IPOs are going to be big enough that the 90s-era rules will/would result in untenable divergence.
the explanation what i heard from some financial analytics is that small float with large valuation would create a dog pile/short squeeze type situation among the funds trying to reflect the SpaceX valuation vs. the whole index valuation - 1.8T vs 70T ratio would be 50B of float vs. 2T where is total of index funds is much larger than 2T, and that is even without accounting for retail investors and other, non-index funds, who will buy a part of float too thus reducing further the float available to the index funds. Such squeeze situation would lead to stock price rise leading to valuation rise, ....
>To people in the financial industry, it's fait accompli.
of course, they've engineered a new way of making even more money. The pile of passive money in ver low expenses index funds obviously have been a fat target for them.
>to reflect the market
the described above squeeze is hardly a way to reflect the market
>of course, they've engineered a new way of making even more money. The pile of passive money in ver low expenses index funds obviously have been a fat target for them.
Are you planning to substantiate this conspiracy theory in any way?
Where do you see a conspiracy theory? I've shown the numbers, it is simple arithmetics.
The situation is similar with mortgage CDS back then - no conspiracy theory/whatever, they just found a way to make AAA bonds out of junk. It was a simple arithmetics too. Everybody knew the arithmetics and was doing it.
Now is the same - they talked about that expected float/valuation squeeze even on NPR - this is where i heard it, i'm not that into finance markets to come up with it myself :)
You are presenting a theory that an unidentified group of people is engaged in a conspiracy to change the rules of the major indices for corrupt reasons.
That's a conspiracy theory. It might be true, but so far nobody can come up with any evidence in support of it.
The simplest possible explanation is that the indices are supposed to track the market, they can't do that if they exclude these IPOs.
The simplest possible explanation is basic statistics so the top 20% of those bonds supposed to fit AAA criteria. No conspiracy. No "unidentified group of people". No corrupt reasons, just legitimate profit seeking and extraction.
It just naturally happens that that legitimate profit seeking and extractions benefits from the actions like "the indices are supposed to track the market, they can't do that if they exclude these IPOs", and i described the natural simple arithmetics how it happens. No conspiracy. Just arithmetics. You can verify it.
> It will absolutely be untenable to keep Anthropic , OpenAI and SpaceX off the S&P 500 with them also being the highest valued companies on the market.
Following the rules of passive indexes is the whole point.
Mēh! The passive indexes (biased to a momentum strategy, so not really passive - they are too big) may have had their day. The blatantly corrupt move to change the rules was clearly an attempt to game them, and even with out the rule change they will squeeze themselves through the rule gate with financial engineering
This will always be the trend in finance, the powerful manipulate the system to their benefit, the rest of us do what we can to survive....
>Following the rules of passive indexes is the whole point.
The whole point of these indices is to represent the market, the rules are unsustainable if they cause too big of a divergence from that goal.
> The blatantly corrupt move to change the rules
Why do you think nobody in the financial press is reporting on this blatant corruption? Is it because this conspiracy also includes all of the news media?
There’s too much anti AI/Elon emotion to have discussions around this issue at this point. HN is usually pretty good about rational discussions, but AI has really triggered people on both sides.
For example, yesterday I posted a link to the Nasdaq faq about the change, and my comment was flagged hah!
No it isn’t. They put rules out for consultation and declined adopting them. Nobody was responding to political anything. If management had a say, they would have probably pushed to adopt the changes.
Then a bunch of influencers turned the whole thing into a conspiracy theory and a shocking number of smart people bought the pitch and churned their retirement accounts.
I’m just working with an EDA client to upgrade their almost decade old machines to run the cadence tools…it’s grim. Real real grim. I was pricing out servers this morning with 64gb(!) of RAM for almost 20k. The machines were running now, some of them have almost a terabyte of RAM. I think the designers are just going to have to suck it up and use the slower machines
You want to have fun, get two fresh water fish biologists in a room and ask them if steelhead and rainbow trout are different species. Everyone has a different opinion they believe in passionately.
There's some official documentation for this process: https://support.apple.com/en-gb/guide/mac-help/mh40616/mac (and this works ok for terminal stuff too! Though it looks like the process will always fail to run the very first time, meaning you can't obviously pre-approve its first launch)
Could you direct me to some resources you used to figure out dosing and sourcing? I’ve been interested in trying it out (need to lose a lot of weight) but have been paralyzed by too much contradictory information.
We only have discussions of the Chinese rolling out gait tracking widely. Basically you use existing facial databases to match ids to people in observed areas and capture their gait as they pass observed areas. Then it goes into the database. Using partial matching (non ideal observation of gait or face) allows for greater positive matching in non-ideal circumstances.
AWS support seems to be struggling. I just came to help a new customer who had a rough severance with their previous key engineer. The root account password was documented, but the MFA went to his phone.
We've tried talking to everyone we can, opening tickets, chats, trying to talk to their assigned account rep, etc, no one can remove the MFA. So right now luckily they have other admin accounts, but we straight up can't access their root account. We might have to nuke the entire environment and create a new account which is VERY lame considering they have a complicated and well established AWS account.
Amazons assistance for account issues to organizations if an employee did anything individually is honestly horrible.
They treat it like the organization is attempting to commandeer someone else's account so all the privacy protections you expect for your own stuff is applied no matter how much you can prove it is not some other individuals account.
The best part is the billing issues that arise from that. In your example, if the previous engineer logged into that account (because they can) and racked up huge costs, assuming that account is getting billed or can be tied to your client, Amazon will demand your client pay for them, while at the same time refusing to assist in getting access to the account because it's someone else's. They hold you responsible, but unable to act in a responsible manner.
While true, the engineer would have to be a weapons grade tit to get themself in such legal trouble, and honestly deserves whatever criminal charges comes their way.
Is this something where you could pay a "consulting fee" to the previous key engineer to login and remove the MFA?
I know that that's not ideal, but as a practical matter perhaps it would be easier than creating a new account, if you can get the engineer to agree to it?
when your startup is three employees and only one technical? this person created their AWS root account, I think it's fair to assume that he's their first engineer and probably first employee
Yes, I am very familiar with zbarimg and qrencode. But, other people might not be, and that's why just scanning a QR code works. Not everyone has Bitwarden, 1Password, Pass, keepass, etc.... also these tools may not be approved by your security teams.
And we are talking about the root account for your production AWS account. No need to get fancy. Just print the QR code, and put it in a safe hoping you never need it.
I won't attempt to defend AWS here, but if any company has such incompetent IT management as to allow an individual employee to have that level of control then they kind of deserve what they get. Life is hard when you're stupid.
That's not an equivalent analogy. A better analogy would be to say I had a bank account and I told my bank to call up Joe on the phone when confirmations were needed. I still have the account, but I have fallen out with Joe. I want the bank to call somebody else, but they refused to do so, even though it's my account and I'm paying the bill for it!
Banks have established processes for changing signatories on business bank accounts, including in situations where a past signatory is no longer with the business.
In a nutshell: if a past signatory was a regular employee, it just takes any other signatory to remove them. If there was no other signatory, or if the past signatory was an officer, it takes a current officer (as set forth in the company's AOI or corporate minutes). Usually only the latter 2 situations of the 3 above require an in-person visit to the local branch office, and that only requires a few minutes.
At a local hospital the radiologists have been all Mac for a long long time. They refused to give it up and resisted all attempts to get them to switch. So it doesn’t surprise me at all.
Yeah, in my first job I was an Apple technician for a company that supplied DICOM solutions to radiologist, both in hospitals and standalone.
I thought it was weird they spent so much money on Apple hardware when most of what we sold was servers that would be hidden anyway.
But they do like OsiriX; once a solution is established in those fields, they stick with it, very conservative professions obviously...
Interesting, I would've guessed that they would've forcibly been on Windows since time immemorial.
Entirely unsurprised that someone would refuse to give up their workflow, though! I've rarely found a user with specific needs who wants to change literally anything else about their system, since what they have works for them.
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